Exclusive: SPEEA, Boeing to meet Monday

By Scott Hamilton Aug. 27, 2026, © Leeham News: SPEEA, the engineers and technicians union, and Boeing will meet on Monday to discuss where to go following last Friday’s rejection by both worker groups of contracts negotiated by negotiators from both sides. SPEEA, which stands for the Society of Professional Engineering Employees in Aerospace, spent most of this week surveying its members to obtain more specificity for the coming new round of contract talks. The current contracts expire at midnight Oct. 6. If no agreement is reached by then, workers are free to strike. Boeing declined comment on the timing but said, “We look forward to working with SPEEA to find a solution at the bargaining table.” Boeing, which was optimistic about approval despite SPEEA’s Bargaining Unit Councils turning thumbs down on the tentative agreements (each worker group has its own contract negotiated by SPEEA), began implementation of its contingency plan in case no agreement is reached. The company posted job openings today for replacement engineers and technicians. Earlier this year, Boeing and SPEEA reached a contract with workers at the former Spirit AeroSystems factory in Wichita, Kansas. Spirit, which was originally a Boeing factory, was spun off from Boeing in 2006. It was reacquired in December and now operates as a subsidiary. The success of reaching an agreement in Wichita contributed to the optimism expressed by the parties in this negotiation. However, 10 years of resentment over outsourcing jobs to other states and countries created a different atmosphere that contributed to the rejection of the two contracts last week. suggest that SPEEA members who do meet with Boeing dig up a bit of history re events around 2004 to 2012 on pension and 401K issues Start here ase 3:06-cv-00743-DRH-DGW Document 2 Filed 09/28/06 UNITED STATES DISTRICT COURT DISTRICT SOUTHERN DISTRICT OF ILLINOIS Cause No: 06-743-JLF seems that Boeing was hiding some of the fees. — and lookup why BA and other companies wanted to freeze DB plans. Ms Cooper was the named Plaintiff in Cooper v IBM re Pension ripoffs, which eventually cost IBM about 30 Million payback for underhanded dealings. Which is why SPEEA still needs competent outside help from firms that specialize in those issues Hopefully those in the meeting take the time to do a bit of history to avoid a repeat of how they lost ‘ pensions’ to 401K and some legal sleight of hand.. Background & Significance The lawsuit was filed by Boeing employees who alleged that the managers of Boeing’s 401(k) retirement plan breached their fiduciary duties under the Employee Retirement Income Security Act (ERISA).The Allegations: The plaintiffs argued that Boeing hid information regarding investment fees, paid excessive record-keeping costs, and funneled excessive money into a revenue-sharing program, which ultimately resulted in significant losses to employee retirement savings. The Outcome: Following nearly a decade of protracted litigation, multiple appeals regarding class certification, and intense discovery disputes, Boeing ultimately agreed to a $57 million settlement in 2015.Impact: The class included roughly 170,000 plan participants. It stands as one of the most prominent early “excessive fee” cases that reshaped how corporate 401(k) plans manage and disclose investment administrative costs.You can look up the complete historical docket details and order history via the federal PACER Case Locator System using the case number provided. Interesting case. I wonder how much a typical plan participant received out of the settlement. $57 million divided 170,000 ways isn’t much ($335 each) but maybe the formula was more sophisticated. Might be less if lawyers fees had to come out of the $57 Million. simple answer – look it up with help from Ai- “Boeing posted contractor positions for engineering and technical roles on job sites on Tuesday, in what appears to be the latest escalation in its labor dispute with its white-collar union at its commercial airplane division.” “Bringing in thousands of contractors could set back progress Boeing has made addressing widespread quality and safety problems in its commercial aircraft production programs after the 737 MAX accident, [union spokesman] Corliss said.” https://money.usnews.com/investing/news/articles/2026-08-26/boeing-posts-contract-jobs-in-labor-disputes-latest-escalation Yep a return to the faster-cheaper process so as to keep the stock price up for those with platinum parachutes not available to the minions ..